Exclusion of productive assets such as farmland in the calculation of income assessment for 3rd– level Maintenance Grants;

Extension of long term land leasing incentives to include incorporated farm businesses as qualifying lessees;

Extension of 50% stock relief to registered farm partnerships in all enterprises.

IFA Farm Business Chairman Tom Doyle said, “IFA highlighted the increase in the rate of Capital Gains Tax (CGT) from 30% to 33% in respect of disposals made after 5 December 2012 introduced in the last Budget. The increase in the CGT rate is a retrograde step in terms of support for restructuring, farm investment and land mobility”.

John Bryan concluded, “Funding for farm schemes underpins farm incomes and output in the agriculture sector, which is delivering employment growth and increased economic activity. In Budget 2014 the Government must make a firm commitment to the agriculture sector through a fully funded Rural Development plan for Ireland, with 50% co-financing and strong support for farm schemes. Furthermore, it is critical that existing taxation measures to support restructuring, farm investment and land mobility are retained and, where necessary, extended, to facilitate potential growth opportunities for the sector”.